Getting your documents in order is the single most important thing you can do to speed up a home loan refinancing application in the Philippines. Banks and lenders assess your identity, income, property, and existing loan — and each of those areas has its own paper trail. Missing even one document can delay your approval by weeks, or worse, get your application deprioritised entirely.
This checklist covers every document you'll typically need across all major Philippine lenders — whether you're refinancing from a bank, or moving away from a government program like Pag-IBIG to a private bank for a lower rate. Use it to prepare your complete file before you submit a single form, so your application moves through underwriting as smoothly as possible.
All Philippine lenders require at least two valid government-issued IDs with your photo and signature. Accepted IDs typically include your Philippine Passport, SSS/GSIS ID, Driver's License, PRC ID, PhilSys National ID, TIN ID, Voter's ID, or UMID card. Most banks want one primary ID (passport or driver's license) and one secondary ID as a backup.
Beyond IDs, you'll also need to submit a duly accomplished bank application form, one to two passport-sized photos (some banks still require physical copies), and a filled-out personal data sheet or customer information form. Married applicants must include their spouse as a co-borrower, which means providing IDs and documents for both parties. You'll also need your PSA-authenticated birth certificate and, if married, your PSA-authenticated marriage certificate. If you were previously married, a copy of your annulment decree or death certificate of former spouse is required.
For employed borrowers, lenders want to verify that you have stable, sufficient income to service the new loan. The standard set of income documents includes:
- Certificate of Employment (COE) — issued on company letterhead, stating your position, employment status (regular/permanent), and monthly salary. Must be dated within the last 30 to 60 days.
- Latest 3 months payslips — showing gross and net pay, allowances, and deductions.
- Latest Income Tax Return (ITR) — BIR Form 2316 (employer-certified) or BIR Form 1700 for the most recent taxable year. Some banks ask for the last two years.
- Latest 3 to 6 months bank statements — from the account where your salary is credited, showing consistent salary deposits.
If you receive rental income, pension, or remittances as supplementary income, bring supporting documents for those as well — lease contracts, pension vouchers, or overseas remittance receipts.
Self-employed borrowers and business owners face a higher documentation burden because income is less predictable than a salary. You will typically need to prepare:
- DTI Registration (for sole proprietors) or SEC Registration plus Articles of Incorporation (for corporations and partnerships)
- Mayor's Business Permit — current year
- Latest 2 years ITR — BIR Form 1701 (individual) or 1702 (corporate), with BIR-stamped receipt or eFPS filing confirmation
- Latest 2 years Audited Financial Statements (AFS) — signed by a licensed CPA and stamped received by the BIR
- Latest 6 months bank statements — both business and personal accounts
- List of Trade References — some banks request this to validate business activity
If your income has been irregular or your credit history is complex, it's worth reading our guide on refinancing with a less-than-perfect credit profile before you apply.
The property is the collateral for your loan, so lenders need to confirm ownership, legal status, and value. The core property documents are:
- Transfer Certificate of Title (TCT) — the original owner's duplicate copy, or a certified true copy from the Register of Deeds (RD) for the bank's file. The title must be clean — free from liens and encumbrances other than your existing mortgage annotation.
- Condominium Certificate of Title (CCT) — for condo unit owners instead of a TCT.
- Tax Declaration — latest copy covering both land and improvements, from the Local Government Unit (LGU) assessor's office.
- Real Property Tax (RPT) Clearance / Official Receipts — proof that real estate taxes are paid up to date, usually for the current year.
- Lot Plan / As-Built Plan — a survey plan of the lot or floor plan of the unit, signed by a licensed geodetic engineer or architect.
- Deed of Absolute Sale or other document proving how you acquired the property (if the title is still under the previous owner's name during transfer).
Your new lender needs to understand the exact status of your current loan so they can structure the refinancing correctly and arrange for the release of the existing mortgage. Prepare the following from your current lender:
- Latest Statement of Account (SOA) — showing your outstanding principal balance, interest rate, remaining term, and monthly amortization. Request this within 30 days of your application so the figures are current.
- Loan Restructuring / Original Loan Documents — your original promissory note and mortgage agreement, if available.
- Payment History / Amortization Schedule — some banks request 12 months of payment history to confirm you're in good standing.
- Letter of Intent to Refinance — some lenders require a formal letter addressed to your current bank stating you wish to settle the loan through refinancing.
- Cancellation of Real Estate Mortgage (REM) — note that this document is produced after your new loan is released and the old one is paid off; you don't need it upfront, but understanding the process helps.
Yes — almost all banks require a formal appraisal of your property before approving a refinancing application. The appraisal determines the current market value of your home, which sets the maximum Loan-to-Value (LTV) ratio the bank will lend against. Most Philippine banks lend up to 70% to 80% of the appraised value for refinancing.
Banks typically use their own accredited appraisers rather than third-party reports you commission yourself. In most cases, the appraisal fee is charged to you as a processing fee — it typically ranges from 3,000 to 6,000 pesos depending on the bank and property location. Some banks absorb this cost as part of a promotional offer.
You generally do not need to arrange the appraisal yourself — once you submit your application and property documents, the bank schedules it. However, you should ensure someone is available to provide access to the property on the scheduled inspection date, as delays here can push back your approval timeline.
This is more common than you might think, and it's rarely fatal to your application — but it does require proactive handling. Here's how to deal with the most frequent issues:
- Expired ID: Renew it before applying. Most banks will not accept IDs that have been expired for more than a year.
- Title still under the seller's or developer's name: You'll need to complete the title transfer at the Register of Deeds before refinancing. This can take several weeks, so start early.
- Outdated Tax Declaration: Request a new one from your city or municipal assessor's office. It typically takes 1 to 5 business days.
- Missing ITR or no BIR registration: Work with a licensed accountant to file any outstanding returns and secure a BIR Certificate of Registration (BIR Form 2303). Note that some banks have stricter requirements here than others.
- No COE because you recently changed jobs: Provide your new COE plus a copy of your employment contract. Banks generally want at least 6 months of tenure with your current employer, though some accept 3 months for probationary staff in certain industries.
When in doubt, disclose the situation upfront. A good mortgage broker — like Nook — can tell you which banks are more flexible on specific document gaps before you formally apply.
Mostly no — the personal and income documents are identical. The difference lies in the property documents. For a house and lot, you submit a Transfer Certificate of Title (TCT). For a condo, you submit a Condominium Certificate of Title (CCT) instead.
Condo refinancing has a few additional considerations: the bank will want to see proof that your condominium dues are paid up to date (a clearance letter from the condo association or property management), and they may request a copy of the Master Deed of Restriction and the condominium corporation's SEC registration to confirm the development is properly constituted.
Some lenders also apply stricter LTV ratios or have minimum floor area requirements for condo units — particularly for smaller studio or one-bedroom units in secondary locations. If you own a condo in a high-demand area, you may find the process more straightforward. Our guide on refinancing a condo loan in BGC covers the specifics of urban condo refinancing in more detail.
For most borrowers who are reasonably organised and have clean titles, expect to spend one to three weeks gathering everything. Here's a rough breakdown by document type:
- Personal IDs and PSA documents: 1 to 3 days if you order PSA documents online via PSAHelpline.ph; longer if you go in-person or if there are corrections needed.
- Income documents (COE, payslips, ITR): 3 to 5 business days to obtain a COE and compile payslips. ITR retrieval from BIR or your HR department can take up to a week.
- Property documents (certified true copy of title, tax declaration, RPT clearance): 3 to 10 business days depending on your LGU's processing speed. The Register of Deeds can be slow in some provinces.
- Existing loan SOA: 3 to 7 business days — request this from your current bank early, as some have lengthy internal processing times.
The key bottleneck is almost always property documents and the existing loan SOA. Request both of these on Day 1, and work on everything else in parallel.
Yes — and this is one of the most practical reasons to use a mortgage broker. Because Nook works across multiple Philippine banks simultaneously, we know exactly which lenders require what, and where there's flexibility. Rather than submitting the same documents to five different banks and getting five different checklists back, you compile one master file and Nook routes your application to the lenders most likely to approve it with the documents you have.
Nook's service is completely free to borrowers — we're paid by the bank when your loan is approved, so there's no cost to getting a personalised document checklist and a rate comparison done for your situation. With the best refinance rates currently available through Nook at 5.99% p.a., many borrowers who were paying 8% or more are saving tens of thousands of pesos every year — and the document preparation process is the only thing standing between them and that saving.